Kuala lumpur: Bursa Malaysia's composite index witnessed a downturn at the midday break, primarily due to profit-taking in telecommunications, consumer products, and utilities counters. The FTSE Bursa Malaysia KLCI (FBM KLCI) experienced a fall of 10.47 points, settling at 1,576.60 compared to the previous close of 1,587.07.
According to BERNAMA News Agency, the index began the day slightly lower by 0.24 point at 1,586.83 and fluctuated between 1,575.21 and 1,587.30 during the morning session. The broader market saw 649 decliners surpassing 254 gainers, with 404 counters unchanged, 1,290 untraded, and 66 suspended. The turnover was recorded at 1.90 billion units valued at RM1.29 billion.
A note from Malacca Securities Sdn Bhd indicated optimism about the FBM KLCI's performance, predicting a positive trend despite the approaching long weekend, buoyed by the S and P 500's record high. The focus is expected to remain on the technology sector, while the construction and utilities sectors are anticipated to benefit from infrastructure projects like the Johor-Singapore Special Economic Zone and the Penang LRT line.
Among market heavyweights, Maybank saw a decline of three sen to RM9.92, Tenaga Nasional dropped 12 sen to RM13.32, and CIMB Group gained one sen to RM7.46. Meanwhile, Public Bank and IHH Healthcare remained unchanged at RM4.28 and RM6.79, respectively.
In terms of active counters, CBH Engineering fell half-a-sen to 33.5 sen, while Samaiden Group rose by two sen to RM1.19. SKB Shutters, Sealink International, and Hextar Global each increased by half-a-sen to 88.5 sen, 16.5 sen, and 90 sen, respectively.
On the index board, notable declines were observed with the FBM Emas Index dropping 72.35 points to 11,708.29, the FBMT 100 Index falling 73.18 points to 11,480.11, and the FBM Emas Shariah Index easing 100.40 points to 11,647.31. The FBM 70 Index and the FBM ACE Index also saw decreases of 91.35 points and 33.03 points, respectively.
Sector-wise, the Financial Services Index declined by 28.76 points to 18,146.68, the Industrial Products and Services Index slipped 0.93 point to 162.28, while the Energy and Plantation Indices also experienced reductions of 4.44 points and 21.10 points, respectively.